⸺ Obituary · October 5, 2015 ⸺
“Bitcoins Are A Waste Of Energy, Literally”
John Quiggin
Photo: John Quiggin (CC0), via Wikimedia Commons
“Fortunately, it’s unlikely that Bitcoin will survive long enough to generate the environmental disaster that would arise if it became a major part of the financial system. The same design feature that requires the use of so much electricity is the fatal flaw in Bitcoin as a currency.”
Price at death
$241
Today
$61,577
Resurrection
×256
On 2015-10-05, John Quiggin (Professor, University of Queensland) declared Bitcoin dead via The Drum. Bitcoin was trading at ~$241 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on October 5, 2015, when one Bitcoin traded for approximately $241. Since then, Bitcoin has appreciated by 256× relative to the price on the day The Drum pronounced it finished.
